- In this year’s Union budget, two items were added in the customs duty bracket related to solar cells and modules
- There is already a safeguard duty of 15 per cent levied on imported solar cells and modules, especially on those coming from China
According to a report by the Business Standard, the ministry of new and renewable energy has clarified that the basic customs duty (BCD) on imported solar cells and modules will remain nil in the current financial year. The report added that in this year’s Union budget, two items were added in the customs duty bracket related to solar cells and modules.
The budget proposed a 20 per cent BCD on solar equipment. Now, the ministry has clarified that these items will continue at ‘nil’ BCD. The report added that the ministry of new and renewable energy in its notice issued said that though tariff rate on the new tariff items has been increased from nil to 20 per cent, BCD on (solar cells, not assembled) and (solar cells, assembled in modules or made into panels), will remain nil.
Safeguard duty of 15 per cent levied on imported solar cells and modules
As per the report, there is already a safeguard duty of 15 per cent levied on imported solar cells and modules, especially on those coming from China. The report added that senior officials said that if BCD will be imposed or not from the next fiscal will be decided after the safeguard duty expires in July.
